Real estate portal CommonFloor to merge with Quikr

Google Capital-backed real estate portal CommonFloor.com has agreed to merge with Mumbai-cased online classifieds company Quikr, a source privy to the development told e27.

Earlier today, VCCircle reported that Quikr is in the process of acquiring Bangalore-based CommonFloor for around US$112 million.

When contacted, a CommonFloor spokesperson told e27. “We are in the middle of fund raising and there are multiple options on the table. We have not yet finalised one. We are working at multiple levels to ensure our growth takes place in a sustained manner. As a company policy, we do not comment on speculations. We are committed to our vision of organising real estate industry in India.”

Founded in 2008 by Chulet and Jiby Thomas, Quikr is a large scale cross-category classifieds business with over 30 million consumers. The site enables users to sell, buy, rent or find products and services. The services are available in 1,000 cities in India and it operates in over 10 categories that include mobile phones, household goods, cars, real estate, jobs, services and education.

The firm has been rapidly expanding its services that include its recently-launched real estate marketplace QuikrHomes, which provides customer engagement and lead management tools to builders and brokers. It also provides a complete living experience for home seekers in the form of additional information about the neighbourhood, schools, malls, hospitals, parks and walking areas.

Read full story: Real estate portal CommonFloor to merge with Quikr